Apply Security Deposits to Utility Expense

What is the easiest way to apply security deposit (asset account) to my utility expenses? as you know, some utility company's require security deposits upon set up, after a year in good standing they start to refund your security deposit. I'm at that point where some utility companies are starting to apply our security deposits to the monthly statements. What is the easiest way I can start applying my deposit on file to the month expenses, etc. Help!

Parents
  • 0

    Post the full amount of the expense to the expense account and then on the next line in the AP entry post a negative for the amount of the deposit being refunded to you and enter the g/l account where you originally posted the deposit on the balance sheet.

Reply
  • 0

    Post the full amount of the expense to the expense account and then on the next line in the AP entry post a negative for the amount of the deposit being refunded to you and enter the g/l account where you originally posted the deposit on the balance sheet.

Children